bluVerve strives to bring you the most relevant information at your fingertips, be it your own company data or general market reports.
Take a look below at our Shipbrokers’ Weekly Market Reports for Week 36 of 2019:
02nd September – 06th September 2019 | Week 36
It has been an impressive couple of months for the dry bulk Capesize market, with the market picking it self-up from the rock bottom of US$ 3,460 per day it reached in early April, to continually showing improvement each month and culminating with a market peak of just over US$ 38,000 per day on the BCI 4 TC. This most recent peak has been its highest level since early 2010, a remarkable feat in its own right. However, it looks as though all the drivers of this rapid market improvement are coming now close to the end of their cycle. The sluggish global steel demand and the shrinking of steel mill margins in 2019 has in turn put a dramatic downward push on demand for…..
Source: Allied ShipBroking
Week 36 | 06th September 2019
The War on Plastics
The so called ‘War on Plastics’ has been steadily gaining traction over the past few years, with major companies such as McDonald’s and Carlsberg, to name a few, seeking to reduce the presence of single use plastics in their businesses. Governments are increasingly regulating plastics use, with the UK banning plastic straws from April 2020. Other initiatives will be rolled out in due course. Admittedly, however, the use of plastics is still projected to grow strongly over the coming years, largely driven by the emerging economies, where the desire for economic growth often outweighs environmental concerns. Given that demand for plastics is expected to make up an ever-increasing share of oil demand, understanding the…..
WEEK 36 (30th August to 06th September 2018)
In the Cape segment General Ore International have sold their “Harriette N” 176/2011 SWS to Chinese buyers for USD 24 mill and Grand China Logistics Group have followed with the sale of “Bulk Success” 176/2014 Jinhai heavy to Berge Bulk for USD 24 mill with SS/DD due in two months.
Moving on to the Panamax sector, Kuang Ming Shipping have sold “YM Virtue” 77/2003 Imabari Indian/Gulf buyers for USD 7,3 mill. The two years younger sister vessel “Heina” 76/2005 Imabari was sold one month ago at levels USD 10,2 mill. In addition, the geared Panamax “Pacific Knight” 68/1996 Imabari, was sold…..
Source: Advanced Shipping & Trading S.A.
WEEK 36 | Tuesday 10th September 2019
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the belief that we will witness better rates in the industry.
Within a short period of two to three months, this momentum of healthy rates has intrigued many ship-owners to have a look at the possibility in purchasing a vessel. The uncertainty and mistrust of the market has not yet disappeared but it has shrunk compared to the previous…..